Canada's Reko acquires stake in Michigan mold builder

Omnexus - Dec 5, 2002

WINDSOR, ON, Dec. 5 -- Mold and die manufacturer Reko International Group Inc. will acquire a 49% equity interest in TMC (The Mold Company), a small mold operation in Romeo, MI. TMC is a MMBDC (Michigan Minority Business Development Council)-certified manufacturer of injection molds for automotive and consumer markets. Under the agreement, TMC president Ken Potter will retain his 51% ownership and remain in charge of daily operations. The transaction is expected to be completed by Jan. 31, 2003. TMC, which employs about 12, has previously done work for Reko. "We hope that by aligning with us, they can grow their busienss," said Michael Dunn, Reko's vp. of finance. TMC currently has sales of about CAD $1.5 million (US $961,000)....

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